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Potential energy : The energy possessed due to its

The formula to find Kinetic Energy of an object is

K= 1/2 m v²

where K is Kinetic Energy, m is mass and v is velocity.

Potential Energy:-

E.g. A moving car possesses Kinetic Energy due to its velocity.

There are many types of potential energy like Gravitational Potential Energy, Electric Potential, Magnetic Potential, Elastic Potential, etc.

E.g. When work is done to raise a body from ground level to a height, the work done gets stored in the form of Gravitational Potential Energy in the object.

When we leave this object, its potential energy gets converted into Kinetic Energy and it comes down back to surface of earth.

E.g. A compressed spring possesses Elastic Potential Energy